Marketing principles in a downturn
Dataphoria was born in the heart of the GFC. This taught us that in challenging times, there is sometimes hope.
We are very aware that it is not appropriate to market some businesses right now, based on safety concerns or government restrictions. For other businesses, it may be the case that going against the grain will yield positive results, for reasons that may not initially be apparent.
When others are quiet, our voice seems louder.
If you are considering down-sizing your sales and marketing efforts, ask whether this is based on current marketing results or anxiety about the market.
Some of our clients, including fundraisers, are seeing great results right now with direct marketing campaigns. This might be down to a number of factors:
- More people are working from home (and potentially feeling quite isolated), so they are more likely to answer telephone calls and answer their mail. Feedback from one call centre was that people seemed to welcome calls more than usual, based on the social touch point.
- Less businesses are marketing right now, meaning that there is less competition. This means you can have a greater share of voice without spending more than usual.
When setting up Dataphoria, I was often asked “if you can’t make enough money to pay the bills next month, what would happen then and what’s your backup plan, in case you fail?”
It was a challenging time in the market and, unbeknown to the people I was speaking to, my 2nd child was on the way. Yet my answer was always the same;
“Every moment I spend worrying about what might happen if I fail is a moment I can’t invest in making sure that Dataphoria will thrive.”
While other businesses were making sales people redundant, I was speaking to marketers about their challenges and goals. As the market started to rebound, these conversations were not forgotten and we have long-term loyal clients to show for it.
In terms of marketing, one shouldn’t be afraid to remind one’s customers what we offer. Don’t worry that marketing your business right now may be seen as inappropriate (so long as you are not opportunistic with your messaging). If you truly believe that you still provide a good, relevant service, then you owe it to yourself, your team and your beneficiaries to keep going.
Stay true to core marketing principles – start small, measure, roll-out and optimise – never stop marketing and never stop measuring.
Like in any market, we need to focus on what really matters at times like these:
Stay positive
- You need to do this for your own mental health and because confidence breeds confidence – if you are panicking, then so will your team and your clients.
Work hard but be strategic with every hour and dollar you invest
- I have started every Monday morning at work the same way for 10 years – I read the same quote by Tim Ferris; “Slow down and remember this: Most things make no difference. Being busy is often a form of mental laziness – lazy thinking and indiscriminate action.”
- Take the time to plan your day and focus on the things that will make biggest difference first.
Don’t give up
- If you feel overwhelmed, draw a line under the first part of the day and start again. Picture Rocky – down on the ropes and know you too have more fight inside you.
HCXWYW ROCKY IV, Sylvester Stallone, Dolph Lundgren, 1985
If the contents of this email inspire you, please reach out to me or one of our account managers. It’s always great to hear from you.
